Civics module 13
1930's Great Depression
In the 1920's bank failure was a common occurrence as the stock market fell people ran to get their money in the bank before they would lose it all. With people running and taking money that the bank did not have on hand for everyone millions lost money in those bank. In the 30's there was no deposit insurance so there was no way to get the money they lost.
In the 80's there was one of the biggest global credit disasters in history. While the S&L crisis was smaller then the 20's and 30's banking crisis the 80's tends to get overlooked. Bank failure was on the rise once more in the 80's causing many to lose well saved money in the banks. This caused legislature to make a move on the banking failures.